Business Context and Reporting Period
This Form 8-K was filed by Central Valley Community Bancorp on December 18, 2013. The report concerns the entry into a material definitive agreement involving amendments to the Director Split Dollar Agreement and Policy Endorsements for participating directors of its sole subsidiary, Central Valley Community Bank.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a corporate governance agreement and does not contain financial performance data.
Material Changes
The Board of Directors approved amendments to clarify language within the Director Split Dollar Agreement and Policy Endorsements. The filing explicitly states that these amendments do not change any benefits paid under the agreements, and the Company's monetary obligation to the participating directors remained unchanged.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. The sole purpose of the report is to disclose the administrative clarification of the director agreement.
Important Facts for Investors
- The amendments to the Director Split Dollar Agreement were approved on December 18, 2013.
- The changes were made solely to clarify language and did not alter financial benefits or obligations.
- Participating directors include Daniel N. Cunningham, Edwin S. Darden, Jr., Steven D. McDonald, Louis McMurray, and William S. Smittcamp.
- No financial metrics or operational results are disclosed in this specific filing.